Birla Corporation reports Q2 profit surge for Rs 583.7 million

Birla Corporation, a company under the MP Birla Group, announced a consolidated net profit of Rs 583.7 million for the second quarter ending September 2023. This marked a significant improvement from the net loss of Rs 564.6 million reported in the same period last year, as stated in a regulatory filing by Birla Corporation. During the quarter, Birla Corporation's revenue from operations rose by 14.3% to Rs 22.8583 billion, compared to Rs 19.9983 billion in the corresponding period the previous year. In the cement business segment, Birla Corporation's revenue reached Rs 21.7832 billion, showing a notable increase of 16.17% from Rs 18.7502 billion reported in the September quarter of the previous year. However, the company experienced a decline in revenue from its jute business, which decreased by 13.23% to Rs 1.0760 billion. Overall, Birla Corporation's total income for the period was Rs 23.1323 billion, reflecting a 13.30% growth compared to the same period in the previous year.